Smith Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows Total sales revenue 1st quarter....S 2nd quarter 3rd quarter 188,000 218,000 257,000 4th quarter S 194,000 Number of jars sold 155,000 182,000 Und savs Plus Desed endeg ventory Total needed 213,000 162.500 Prepare the production budget by test calculating the total unts needed, then calculate the unts to produce Smith Foods Production Budget For the Quarters in the Upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Smith anticipates selling 224,000 jars with total sales revenue of $268,000 in the first quarter of the year following the year given in the preceding table Smith has a policy that the ending inventory of jars must be 30% of the following quarter's sales Requirement Prepare a production budget for the year that shows the number of jars to be produced each quarte) and for the year in total

Smith Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows Total sales revenue 1st quarter....S 2nd quarter 3rd quarter 188,000 218,000 257,000 4th quarter S 194,000 Number of jars sold 155,000 182,000 Und savs Plus Desed endeg ventory Total needed 213,000 162.500 Prepare the production budget by test calculating the total unts needed, then calculate the unts to produce Smith Foods Production Budget For the Quarters in the Upcoming Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year Smith anticipates selling 224,000 jars with total sales revenue of $268,000 in the first quarter of the year following the year given in the preceding table Smith has a policy that the ending inventory of jars must be 30% of the following quarter's sales Requirement Prepare a production budget for the year that shows the number of jars to be produced each quarte) and for the year in total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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